Subbarao Says Reserve Bank of India Will Act Appropriately to Aid Growth The Reserve Bank of India will adopt appropriate measures on boosting economic growth, Governor Duvvuri Subbarao said on the day the nation’s inflation rate fell to the lowest on record, giving room for more rate cuts.
India Inflation Slows to 0.27%, Giving More Room for Lower Interest Rates India’s inflation slowed to 0.27 percent, giving the central bank more room to cut interest rates and prop up an economy growing at the weakest pace in six years.
Reliance to Sign Preliminary Agreeements on Gas With Fertilizer Companies Reliance Industries Ltd., India’s biggest company, will sign preliminary agreements today with fertilizer companies to supply natural gas from its largest gas find, an official from one of the buyer companies said.
ICICI Bank Kamath Says Interest Rates May Decline, Wants Clarity on Bonds ICICI Bank Ltd.’s Chief Executive Officer K.V. Kamath expects interest rates to decline in India, following the central bank’s easing of monetary policy in response to the slowdown in economic growth.
Edible Oil Reserves to Triple on Duty-Free Imports, Hurting Oilseed Prices Supplies of vegetable oil in India, the world’s biggest buyer after China, may increase as importers take benefit of duty free purchases of palm and soybean oils, likely hurting domestic oilseed prices.
Government Bonds Drop a Sixth Day as India Unveils Record FY10 Borrowing Indian bonds fell for a sixth day after the government said it will borrow a record amount in the fiscal year beginning April 1 to finance stimulus spending.
Rupee Strengthens as Overseas Investors Increase Purchase of Indian Shares India’s rupee strengthened as investors based abroad added to their local equity holdings for a seventh day, the longest stretch in more than a year.
Geithner Says U.S. Needs `New Rules of Game' to Avert Another Bank Crisis U.S. Treasury Secretary Timothy Geithner said regulation of the U.S. financial system needs a broad overhaul to heal a crippling lack of confidence caused by the credit crisis.
Stocks in U.S. Climb, Extending S&P 500's Biggest Monthly Rally Since '87 U.S. stocks rose, extending the market’s best monthly gain since 1987, on better-than-estimated earnings at Best Buy Co. and ConAgra Foods Inc. and prospects for lower labor costs at General Motors Corp.
U.S. Economy Shrank 6.3% in Fourth Quarter as Profits Fell Most Since 1953 The U.S. economy shrank at a 6.3 percent annual pace in the fourth quarter, the worst performance since 1982, in what may be the depths of the recession.
Fixed 30-Year U.S. Mortgage Rate Falls to 4.85%, Lowest in Freddie Records The U.S. 30-year fixed mortgage rate fell to 4.85 percent, the lowest on record, on a government plan to increase purchases of mortgage-backed bonds and buy as much as $300 billion of Treasuries.
SEC's Schapiro Will Impose New Rules on Money Managers After Madoff Fraud U.S. Securities and Exchange Commission Chairman Mary Schapiro said she will impose new rules on money managers to safeguard client holdings after Bernard Madoff’s $65 billion fraud shattered investor confidence.
Principle Capital Shareholders Pass Vote to Oust Myerson, Wind Down Fund Shareholders of Principle Capital Investment Trust Plc, the U.K. private-equity-style fund that dropped 81 percent in 2008, passed a vote to oust Chief Executive Officer Brian Myerson and to wind down the fund today.
GM Says 7,500 Union Workers Take Buyouts as It Seeks to Maintain U.S. Aid General Motors Corp. said 7,500 United Auto Workers members signed up for buyouts the company needs as part of cuts to keep $13.4 billion in U.S. aid, more than doubling a Barclays Capital estimate.
source: Bloomberg
